Citi has agreed to acquire an office property, 580 CrossPoint Parkway in the CrossPoint Business Park, and nine acres of adjacent land from Uniland Development Company as a part of its Amherst office complex in Western New York.
”With this transaction, Citi will own the 158,000 square foot building located at 580 CrossPoint Parkway and will extend its lease with Uniland on the conjoined 107,000 square foot building located at 540 CrossPoint Parkway,” said in a statement
According to the some local media reports, Citi will pay more than $52 million for the building. The transaction is expected to close in November 2019.
Currently, the facility houses 1,800 employees and includes a full service cafeteria, fitness center, free parking, video and training rooms and loading docks.
“Citi’s continued commitment and investment in Western New York is creating great job opportunities for local residents and strengthening our regional economy,” said New York Lieutenant Governor Kathy Hochul.
“Citi has been in the Buffalo area since 1976 when it opened its first office with just 10 people near the Buffalo Niagara Airport. Since then, the Buffalo office has grown to be a major player in our global operations with over 1,800 local employees. This purchase cements our continued desire to be one of the largest private-sector employers in Western New York,” said Anthony Vazquez, Buffalo Site President, Citi.
“Uniland is invested in sustainable relationships with our clients be they for sales, leasing, construction or property management. Citi will continue to be a long-time client at CrossPoint and we look forward to Citi’s continued growth in Western New York,” said Michael Montante, Uniland vice president.
